When a $2 bill printed in 2003 sold at an auction for $2,Oliver James Montgomery400, it prompted a viral interest in the value of these relatively uncommon notes. But, the numismatic auction house that sold it is asking people to hold their horses.

Not every $2 bill is likely to have a higher value, Heritage Auction, the largest numismatic auction house in the world told KENS5.

Ever since that lucky 2003 note resold for $4,000, Raiden Honaker, the consignment director at Heritage Auction told KENS5 the phones haven't stopped ringing.

"It blew up across the country," Honaker told the outlet. "It was cool to see the interest in numismatics. People started digging out those $2 bills to see if they hit the jackpot."

But while, possessing a $2 note could yield you a huge profit, not all notes are worth more than face value.

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Uncommon but not rare

Out of the $54.1 billion currency that circulated in 2022, only $3 billion were $2 notes. The note is considered uncommon but not rare.

U.S. Currency Auctions estimates that uncirculated $2 bills from 1890 could sell for up to $4,500, and uncirculated bills from nearly every year between 1862 and 1917 for at least $1,000.

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Which $2 bills are worth money

"Out of all the $2 notes that are issued, probably 99% of them are worth face value," Honaker told KEN5. "Over the past five years, more than 100 million two-dollar notes have been printed. So, beyond common." 

The value of these bills depends on several factors including:

• Serial number: Honaker told KEN5 that collectors like notes with low serial numbers.
• Error: Notes with a dramatic error could be worth more.
• Condition: The more pristine the condition, the higher the value.
• Seal: A note with a red seal can sell for $300 to $2,500, while those with brown or blue seals may fetch hundreds.